Guardant Health, Inc. · NASDAQ:GH
Guardant Health — Q3 2022 Earnings Presentation
17 slides from Guardant Health's earnings presentation, Nov 3, 2022
Slide 1: Q3 2022 Earnings Call
Q3 2022 Earnings Call November 3, 2022
Slide 2: Safe Harbor
Safe Harbor Certain statements in this presentation and the accompanying oral commentary are forward-looking unknown risks and uncertainties, many of which are beyond the Company's control. These and other statements within the meaning of federal securities laws. These statements relate to future ev
Slide 3: Q3 revenue up 24% year over year
Q3 revenue up 24% year over year +24% $117M $95M • Precision Oncology revenue: $102m, +29% y/y • Development Services & Other revenue: $15m, -1% y/y Q3 2021 Q3 2022 3
Slide 4: Q3 Clinical volumes up 42% year over year
Q3 Clinical volumes up 42% year over year +42% +11% 32.4K 29.3K Accelerating sequential volume 27.1K growth during the quarter 25.6K 22.8K Growth in ordering oncologists and 20.8K Guardant tests per customer Reveal multi cancer launch and increased CRC reimbursement rate EPIC EMR customer onboarding
Slide 5: Biopharma sample volumes up 40% year over year
Biopharma sample volumes up 40% year over year +40% 6.8K 6.6K Record sample volume of 6,750 tests 6.0K Market leader in ctDNA with >140 5.1K biopharma partners since launch 4.8K Guardant Infinity was >10% of 3.7K biopharma volume mix in first quarter post launch Received FDA approval for Guardant360
Slide 6: Smart Liquid Biopsy Countless Apps
Smart Liquid Biopsy Countless Apps Epigenomic and machine-learning powered applications: • Tumor tissue of origin • Enhanced therapy selection Smartphone • Predictive and prognostic biomarker signatures • Protein and RNA surrogacy … Smart Liquid Biopsy Mobile Phone Unleashing the age of the epigenom
Slide 7: Unlocking a $20B opportunity for CRC screening in 2022 & beyond
Unlocking a $20B opportunity for CRC screening in 2022 & beyond Database lock expected in next few days for ECLIPSE PMA On-track for trial readout in Q4 Last module PMA submission to FDA on target for Q4 Launched ECLIPSE Submit for FDA Approval Medicare Coverage Guidelines Shield LDT Readout FDA App
Slide 8: Launched Shield LDT in May 2022, initially targeted at unscreened individuals
Launched Shield LDT in May 2022, initially targeted at unscreened individuals 2022 CRC Screening Compliance in the United States 137M Individuals Ages 45 – 851 17M High Risk Individuals 120M Avg Risk Individuals (88%)2 (12%)2 49M Unscreened Individuals3 (41%) 71M Screened Individuals (59%)3 16M Pote
Slide 9: Shield LDT launch demonstrating the power of blood-based CRC screening
Shield LDT launch demonstrating the power of blood-based CRC screening in a real-world setting Industry benchmark >4 <1 Tests per Tests per provider per provider per >8k >600 month1 month 2 Orders placed Providers by end of Sep >90% ~65% Adherence rate for Adherence rate 3 first 8k patients1 9 Sourc
Slide 10: Key factors driving blood-based CRC screening adoption
Key factors driving blood-based CRC screening adoption 1 Unmet Need Stagnant compliance rate, best test is the one that gets done 2 Performance ECLIPSE trial read-out Access and Reimbursement 3 Medicare NCD, ACS and USPSTF guidelines Patient Preference 4 Improved satisfaction and preferred modality
Slide 11: Patient survey demonstrates preference for blood test over stool and colonoscopy method
Patient survey demonstrates preference for blood test over stool and colonoscopy method Previous Screening Modality Future Screening Modality For patients who have had a stool test only, 7 out of 10 would not choose a stool test again Stool Colonoscopy Colonoscopy only 42% 5% 53% Strong preference f
Slide 12: Long-term adoption of Shield blood-based CRC screening
Long-term adoption of Shield blood-based CRC screening, boosted by patient preference and multi-cancer screening FDA Approval, CMS reimbursement, guidelines inclusion Screening Market Size Blood-Based CRC 10M+ Patient Preference Tests1 Multi-cancer boosters Profitable $5B+ revenue opportunity 3 – 4M
Slide 13: Q3 2022 financial overview
Q3 2022 financial overview Q3’22 Q3’21 Total Revenue $117M $95M Precision Oncology Revenue $102M $79M Development Services & Other Revenue $15M $16M Gross Margin 66% 67% Operating Expenses $222M $171M Net Loss -$162M -$108M EPS -$1.58 -$1.06 13
Slide 14: Q3 2022 non-GAAP financial measures & cash
Q3 2022 non-GAAP financial measures & cash Q3’22 Q3’21 Non-GAAP Operating Expenses $201M $135M Adjusted EBITDA -$113M -$65M Non-GAAP EPS -$1.18 -$0.70 September September 30, 2022 30, 2021 Cash, cash equivalents & investments $1.1B $1.7B 14 Non-GAAP operating expenses exclude stock-based compensatio
Slide 15: FY 2022 guidance
FY 2022 guidance ▪ Total Revenue: approx. $440 - $450 million, growth of 18% to 20% y/y (previously $460-470 million) ▪ Precision Oncology Revenue: 27-30% growth over 2021 (previously >35%) ▪ Development Services & Other Revenue: approx. $55 million (previously >50 million) ▪ Clinical Volume*: appro
Slide 16: Key milestones transforming the continuum of care in 2022 and beyond
Key milestones transforming the continuum of care in 2022 and beyond Therapy Selection Recurrence Monitoring Screening • TissueNext reimbursement • Demonstrated strong performance • Launched Shield CRC LDT in multi-cancer with Reveal • 2H: ECLIPSE readout • Regulatory approval in Japan • CMS reimbur
Slide 17: Guardant Health
(@) GUARDANT